Wealth management firm Nuvama Group plans to expand its reach to more than 300 cities and grow the number of wealth managers to over 2,000 in the next five years. Nuvama plans to extend its offerings to clients in key offshore markets including the US, the Middle East, Europe, and the rest of Asia, said Ashish Kehair, MD & CEO, Nuvama.
Nuvama, which plans to demerge from Edelweiss Financial Services in Q1 FY 24, aims to triple both its client assets to Rs 6 trillion ($80 bn) and client base by 2028. Over the last five years, the company has grown its client assets at a CAGR of 27%. Ashish said: “The digitalisation of the economy, rising income levels, increasing affluence and entrepreneurial trend in tier II and tier III cities have contributed to a rapid emergence of a new class of wealthy Indians, a segment we believe is poised to grow exponentially in the next decade. Our target is to provide solutions and high-quality advisory to our Indian and global clientele, for their wealth management and financial needs. We plan to continue leveraging our expertise to serve both institutional equities and investment banking clients.”
